Litecoin up 7% as SEC likely to approve spot ETF with 90% chance, analyst says
A bullish reversal pattern is forming as LTC reclaims the critical $86 level amid growing institutional interest.
Author AI Boost | Edited by Aoyon Ashraf Updated May 1, 2025 7:59 PM Published May 1, 2025 5:28 PM
What you need to know:
- Bloomberg analysts now estimate the likelihood of the SEC approving the Litecoin spot ETF at 90%.
- Litecoin price has been fluctuating between $81 and $88, with strong support seen at $84 after the sell-off on April 30.
- Bitcoin's rise to $100,000 has sparked interest from Litecoin buyers, although bearish pressure remains as LTC struggles to maintain momentum above $85.
Litecoin (LTC) price rose more than 7% on Thursday, outperforming the broader CoinDesk 20 market index, which rose about 4%.
Bloomberg Senior ETF Analyst Eric Balchunas reports that the likelihood of a Litecoin spot ETF being approved has increased to 90%, with a key deadline of October 2, which could significantly expand LTC's institutional investor base and potentially drive a significant price rally.
Would love to hear directly from Atkins, but the odds are stacked. Here are our latest approval odds for all spot ETFs via @JSeyff https://t.co/nLhYJJmO9U pic.twitter.com/4AcJVwhics
— Eric Balchunas (@EricBalchunas) April 30, 2025
Key Points of Technical Analysis
- According to technical analysis data from CoinDesk Research, the LTC-USD pair has shown significant volatility in the range of 7.51% ($81.82–$88.03), creating strong support near $84.00.
- The price action has formed an ascending channel with a successful breakout of the $86.00 level over the last 48 hours.
- The recovery saw high interest in buying with accumulation at key Fibonacci retracement levels.
- The current dynamics suggest a potential continuation of the move towards the resistance level of $88.50, with $85.50 acting as confirming support.
- Over the last 100 minutes of trading, LTC has recovered from an average of $86 to above $87.19 after forming a higher low at $86.36.
- Particularly noticeable buying interest was seen between 14:14 and 14:17 UTC, when LTC regained the psychological level of $87.00.
- The last hour showed increasing momentum with consecutive higher highs and higher lows, closing at $87.19, just below the $87.25 resistance.
- The bullish price structure coupled with easing selling pressure suggests a possible extension to $88.00 if support at $87.00 holds.
Disclaimer: This article was created using AI tools and reviewed by our editorial team to ensure accuracy and adhere to our standards. For more information, see CoinDesk's full AI policy. This article may include information from external sources, listed below, where applicable.
External links:
- Cryptopolitan, Litecoin Price Prediction 2025-2031: Will LTC Recover to $200 Anytime Soon?, published April 30, 2025
- Bitcoinist, Bitcoin is coming
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